Theolia SA, the France-based renewable energy company, has announced that it is to transfer its non-wind assets (biomass, CHP, biogas and solar) to a wholly-owned subsidiary, Theolia Benelux. This will allow Theolia SA to fully concentrate its resources on wind energy production and give greater autonomy to Theolia Benelux.
The assets to be transferred to Theolia Benelux include:
- Solar energy development projects in Spain with a future capacity of 20MW
- Biomass and biogas development projects in Italy, including the construction by 2010 of six units each of 3 to 5 MW with a total capacity of approximately 20MW
- Two French 'peaking units' (16MW) under contract with EDF until 2010 and 2011
Jean-Marie Santander, CEO of Theolia, said: "We will continue to lead the growth of our global wind assets from our base in France while our Belgium-based colleagues deploy their considerable expertise in developing and acquiring assets in other renewable power sectors such as biomass and solar. I am confident that with this strategic re-organisation we will accelerate the Group's growth, differentiate ourselves from other market players and create value for our shareholders."
Theolia Benelux meanwhile announced that it has taken a 51% stake in the Dutch CHP and biogas specialist, Polargen. This transaction has been fully financed by Theolia SA.
Jacques Putzeys, President of Theolia Benelux, said: "This acquisition is an example of the strategic focus that the re-organisation brings. I am confident in the ability of the Theolia Benelux team to grow our assets so that like our parent company, Theolia SA, we will become a major pan-European renewable energy company."
Established in 2003 and based in 't Harde, Holland, Polargen constructs and operates CHP plants (total capacity 23MWe) primarily for greenhouse agribusinesses. Polargen's turnover is based on heat and electricity sales, and green certificates through its biogas production unit.
By end 2007, Polargen plans to build a further nine plants in Benelux with an installed capacity of 25 MWe. With the 9MWe currently managed by Theolia Benelux, this will give a total capacity of 57MWe.
Theolia Benelux (formerly Energo) and Polargen have worked in partnership to develop CHP projects since 2004. Together they plan to build on their complementary skills in Benelux, Italy and Germany to reach 200 MWe by 2010.
NB: MWe means MW of electricity. CHP production combines MWe and MWth (heat).
Theolia is a leading independent developer of wind farms in France with a growing presence in renewable energy production in Europe. Listed on Euronext Paris (Eurolist B) under the code TEO, Theolia opened its first wind park in France in January 2006, at Fonds de Fresne in the Somme region. It has an installed capacity of 10MW. Theolia aims to reach an installed capacity of 250MW by the end of 2007 and to build an additional 150MW per year until 2010. France is a fast growing market for wind energy. The French Government has set a target of installing 13,500MW of wind capacity by 2010.
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Tél : + 33 (0)4 42 904 904
Tél : +33 (0)4 42 904 904
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THEOLIA is listed on Eurolist B, Euronext Paris, code: TEO © Copyright Actusnews Wire
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